Real Estate Taxes Clause Examples
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Real Estate Taxes. Tenant covenants to pay to Landlord, as Additional Rent, for each tax period partially or wholly included in the term, Tenant’s Percentage of Taxes (as hereinafter defined). Tenant shall remit to Landlord, on the first day of each calendar month, estimated payments on account of Taxes, such monthly amounts to be sufficient to provide Landlord, by the time real estate tax payments are due and payable to any governmental authority responsible for collection of same, a sum equal to the Tenant’s Percentage of Taxes, as reasonably estimated by Landlord from time to time on the basis of the most recent tax data available. The initial calculation of the monthly estimated payments shall be based upon the Initial Estimate of Tenant’s Percentage of Taxes for the Tax Year and upon quarterly payments being due to the governmental authority on August 1, November 1, February 1 and May 1, and shall be made when the Commencement Date has been determined. If the total of such monthly remittances for any Tax Year is greater than the Tenant’s Percentage of Taxes for such Tax year, Landlord shall promptly pay to Tenant, or credit against the next accruing payments to be made by Tenant pursuant to this subsection 4.2.1, the difference; if the total of such remittances is less than the Tenant’s Percentage of Taxes for such Tax Year, Tenant shall pay the difference to Landlord at least ten (10) days prior to the date or dates within such Tax Year that any Taxes become due and payable to the governmental authority (but in any event no earlier than twenty (20) days following a written notice to Tenant, which notice shall set forth the manner of computation of Tenant’s Percentage of Taxes). This section shall survive the expiration or earlier termination of the Lease. If, after Tenant shall have made reimbursement to Landlord pursuant to this subsection 4.2.1, Landlord shall receive a refund of any portion of Taxes paid by Tenant with respect to any Tax Year during the term hereof as a result of an abatement of such Taxes by legal proceedings, settlement or otherwise (without either party having any obligation to undertake any such proceedings), Landlord shall promptly pay to Tenant, or credit against the next accruing payments to be made by Tenant pursuant to this subsection 4.2.1, the Tenant’s Percentage of the refund (less the proportional, pro rata expenses, including attorneys’ fees and appraisers’ fees, incurred in connection with obtaining any such refund), as relates to Tax...
Real Estate Taxes. Any real estate ad valorem or similar taxes for the Property, or any installment of assessments payable in installments which installment is payable in the calendar year of Closing, shall be prorated to the date of Closing, based upon actual days involved. The proration of real property taxes or installments of assessments shall be based upon the assessed valuation and tax rate figures (assuming payment at the earliest time to allow for the maximum possible discount) for the year in which the Closing occurs to the extent the same are available; provided, however, that in the event that actual figures (whether for the assessed value of the Property or for the tax rate) for the year of Closing are not available at the Closing Date, the proration shall be made using figures from the preceding year (assuming payment at the earliest time to allow for the maximum possible discount). The proration of real property taxes or installments of assessments shall be final and not subject to re-adjustment after Closing.
Real Estate Taxes. 5.1 Tenant shall pay, as additional rent, all Real Estate Taxes (including personal property taxes, if any), assessments, water and sewer rent rates and charges, charges for public utilities, excise levies, license and permit fees and other governmental charges, general and specified, of any kind whatsoever (collectively "Impositions") assessed against the Premises with respect to the Term, but not income, franchise or other taxes assessed against Landlord's income or profits. Such payments shall be made within thirty (30) days after receipt of a xxxx therefor from Landlord, which xxxx shall contain a copy of the municipal or other taxing authority tax xxxx. Tenant shall be entitled to the benefit of any statute or ordinance permitting Real Estate Taxes to be paid in installments and, upon such election, Tenant's payments hereunder shall be made in such installments. Landlord shall xxxx Tenant for the applicable installment at least thirty (30) days before the installment may be paid to the taxing authority without interest or penalty, and Tenant shall not be responsible for any such interest or penalty resulting from Landlord's delay in payment of such amounts to the taxing authority.
5.2 Tenant shall have the right to contest the amount or validity, in whole or in part, of any Real Estate Tax, or to seek a reduction in the valuation of the Premises, or any part thereof, as assessed for Real Estate Tax purposes, by appropriate proceedings diligently conducted in good faith. Landlord shall cooperate with any such tax reduction proceeding. If Landlord receives notice of an increase in the Real Estate Tax assessment for the Premises and fails to notify Tenant of such increase at least 30 days before the last day for filing an objection to such increase, then Tenant shall not be responsible for paying any Real Estate Taxes to the extent they result from such increased assessment. Any refund of Real Estate taxes with respect to the Term shall promptly be paid to and be the property of Tenant.
5.3 Real Estate Taxes shall be apportioned between Landlord and Tenant as of the beginning and the expiration or sooner termination of the Term, so that Tenant shall pay only the portion of the Real Estate Taxes allocable to the Term; provided, however, that Landlord need not make any apportionment in favor of Tenant if this Lease shall have been terminated by reason of an Event of Default.
Real Estate Taxes. Tenant shall pay directly to the Landlord: (i) Tenant's Proportionate Fraction for Building and Tenant's Proportionate Fraction for Complex, respectively, of all taxes, assessments (special or otherwise), levies, fees, water and sewer rents and charges, and all other government levies and charges, general and special, ordinary and extraordinary, foreseen and unforeseen, which are, at any time during the Term hereof, imposed or levied upon or assessed against the Premises, the Building, the Lot or the Complex, and (ii) the full amount of any tax or assessment imposed or levied upon or against (A) any Fixed Rent, Additional Rent or other sum payable hereunder, (B) this Lease, or the leasehold estate hereby created, or which arise in respect of the operation, possession or use of the Premises; (C) all gross receipts or similar taxes imposed or levied upon, assessed against or measured by any Fixed Rent, Additional Rent or other sum payable hereunder; and (D) all sales, value added, use and similar taxes at any time levied, assessed or payable on account of the acquisition, leasing or use of the Premises (and Tenant's Proportionate Fraction for Building and Tenant's Proportionate Fraction for Complex, respectively, of any such taxes if they are levied, assessed or payable on account of the acquisition, leasing or use of the entire Building Lot or the Complex) which may become a lien on the Building, the Lot, the Premises or the Complex (collectively "taxes and assessments" or if singular "tax or assessment"). For each tax or assessment period, or installment period thereof, wholly included in the Term, all such payments shall be made by Tenant not more than twenty (20) days after receipt of an invoice therefor. For any fraction of a tax or assessment period, or installment period thereof, included in the Term at the beginning or end thereof, Tenant shall pay to Landlord, within twenty 20 days after receipt of an invoice therefor, Tenant's Proportionate Fraction for Building and Tenant's Proportionate Fraction for Complex, as applicable, of taxes and assessments so levied or assessed or becoming payable which is allocable to such included period. At Landlord's option, Tenant shall pay taxes and assessments in accordance with Section 4.2.5 hereof. Subject to Tenant's payment to Landlord of taxes and assessments as and when required by this Section 4.2.1, Landlord agrees to pay such tax and assessments to the proper authorities prior to delinquency and to provide...
Real Estate Taxes. If Taxes (as hereinafter defined) assessed against the Property (or estimated to be due by governmental authority) for any fiscal tax period (a “Tax Year”) during the term of this Lease shall exceed Base Taxes, whether due to increase in rate or reassessment of the Property, or both, Tenant shall reimburse Landlord, as Additional Rent, for Tenant’s Percentage of any such excess (such amount being hereinafter referred to as the “Tax Excess”). Tenant shall pay to Landlord, as Additional Rent on the first day of each calendar month during the term but otherwise in the manner provided for the payment of Annual Fixed Rent, estimated payments on account of the Tax Excess, such monthly amounts to be sufficient to provide Landlord by the time Tax payments are due or are to be made by Landlord a sum equal to the Tax Excess for the then current Tax Year, as reasonably estimated by Landlord from time to time. Within a reasonable period of time after the end of each Tax Year during the term, Landlord shall give Tenant a notice setting forth the amount of Taxes for the preceding Tax Year and a computation of any Tax Excess. If the total of Tenant’s monthly remittances on account of the Tax Excess for any Tax Year is greater than the Tax Excess for such Tax Year, Landlord shall credit such overpayment against Tenant’s subsequent obligations on account of Taxes (or promptly refund such overpayment if the term of this Lease has ended and Tenant has no further obligations to Landlord); if the total of such remittances is less than the Tax Excess for such Tax Year, Tenant shall pay the difference to Landlord within ten (10) days after being so notified by Landlord. If the Commencement Date shall occur or the term of this Lease shall expire or be terminated during any Tax Year, or the Tax Year or if the period of assessment of real estate taxes is changed or be more or less than one (1) year, or if Tenant’s Percentage is modified during any Tax Year due to a change in the rentable area of the Building and/or the Premises or otherwise, then the amount of Tax Excess which may be otherwise payable by Tenant as provided in this subsection 4.2.1 shall be pro-rated on a daily basis based.
Real Estate Taxes. (a) The term "Real Estate Taxes" shall mean all taxes and assessments (including without limitation, assessments for public improvements or benefits and water and sewer use charges), and other charges or fees in the nature of taxes for municipal services which at any time during or in respect of the Lease Term may be assessed, levied, confirmed or imposed on or in respect of, or be a lien upon, the Building and the Lot, or any part thereof, or any rent therefrom or any estate, right, or interest therein, or any occupancy, use, or possession of such property or any part thereof, and ad valorem taxes for any personal property used in connection with the Building or Lot. Landlord agrees that Tenant's share of any special assessment shall be determined (whether or not Landlord avails itself of the privilege so to do) as if Landlord had elected to pay the same in installments over the longest period of time permitted by applicable law and Tenant shall be responsible only for those installments (including interest accruing and payable thereon) or parts of installment that are attributable to periods within the Lease Term. Should the Commonwealth of Massachusetts, or any political subdivision thereof, or any other governmental authority having jurisdiction over the Building, (1) impose a tax, assessment, charge or fee, which Landlord shall be required to pay, by way of substitution for such Real Estate Taxes, or (2) impose an income or franchise tax or a tax on rents in substitution for a tax levied against the Building or the Lot or any part thereof and/or the personal property used in connection with the Building or the Lot or any part thereof, all such taxes, assessments, fees or charges ("Substitute Real Estate Taxes") shall be deemed to constitute Real Estate Taxes hereunder. Real Estate Taxes shall also include, in the year paid, all reasonable fees and costs incurred by Landlord in obtaining a reduction of, or a limit on the increase in, any Real Estate Taxes, regardless of whether any reduction or limitation is obtained provided that Tenant has consented to seeking such a reduction or limitation. Except as hereinabove provided with regard to Substitute Real Estate Taxes, Real Estate Taxes shall not include any inheritance, estate, succession, transfer, gift, franchise, net income or capital stock tax.
Real Estate Taxes. (a) In addition to paying Base Rent, Tenant shall pay to Landlord as additional rent Tenant's Proportionate Share of Real Estate Taxes (as defined in Section 5.1(b) below) for each calendar year falling entirely or partly within the Lease Term.
(b) As used in this Lease, the term "Real Estate Taxes" shall mean and include: (1) all federal, state and local governmental or municipal taxes, fees, charges or other impositions of every kind and nature, whether general, special, ordinary or extraordinary (including, without limitation, real estate taxes, general and special assessments, transit taxes, leasehold taxes, or taxes based upon the receipt of rent, including gross receipts or sales taxes applicable to the receipt of rent unless required to be paid by Tenant, personal property taxes imposed upon the furniture, machinery, equipment, apparatus, systems, equipment, appurtenances and other personal property used in connection with the Building and/or the Land, and so-called business improvement district or "BID" taxes, assessments or charges), which are imposed upon or payable by Landlord or assessed against the Building and/or the Land because of or in connection with the ownership, management, maintenance or operation of the Building and/or the Land, without regard to any fiscal year used by any governmental authority which is different from a calendar year; (2) any and all other present or future taxes or governmental charges that are imposed upon Landlord or assessed against the Building and/or the Land which are in the nature of or in substitution for any of the above-referenced items included in the definition of Real Estate Taxes, including any tax levied on or measured by the rents payable by tenants of the Building; and (3) all reasonable costs and expenses incurred or paid in reviewing, protesting, seeking a reduction of, or otherwise addressing a challenge of Real Estate Taxes. Real Estate Taxes shall not include (i) any income, franchise, corporate, personal property, capital levy, capital stock, gross receipts, excess profits, transfer, mortgage, revenue, estate, inheritance, gift, devolution or succession tax payable by Landlord, or (ii) any special assessments resulting, in whole or in part, from capital improvements to any part of the Building other than the Premises. Under no circumstances shall Tenant initiate or participate in any protest, appeal or challenge related to the imposition of Real Estate Taxes. Further, under no circumstances ...
Real Estate Taxes. All real estate taxes levied on the above-described Property and payable for the year 2020 and all prior years shall be paid by the Seller. All real estate taxes levied and payable for the year 2021 and all subsequent years shall be paid by the Buyer.
Real Estate Taxes. All taxes and installments for special assessments will be prorated for the calendar year based on taxes levied. If taxes have not been levied, then they will be prorated based upon taxes for the previous year, adjusted for the most recent mill levy, if known.
Real Estate Taxes. All real property taxes and adjustments which are delinquent shall be paid at the Closing out of funds due to Seller. Any non-delinquent real property taxes and adjustments, if any, shall be apportioned pro rata on an accrual basis.